If you feel so strongly about it, I urge you to do something before it is too late. Start your own exchange now while you still can. Relying on other people to solve your problems for you is ineffective, and crying about it won't solve anything.

True. However, more exchanges have been made, and nobody is using them in lieu of the Gox. It's not a problem any one individual can solve.

i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

interesting - thanks.

newsletter?

i'm currently in the final stage of data collection for a "Price Analysis and Projection" report. it's sketched out but i'm waiting for a particular confirmation before i am confident enough in my price model to publish it.

after that, i'm going to make it available for a bounty on the forums. keep an eye out, ETA 8 hours

major supports on the way down become major resistances on the way up.

i hear what you are saying, but the bounces and the resistance levels are "fake" seeing there was an intervention by mt gox. so i think charts mean nothing when they dont show actual information imo.

while the data may be skewed, even severely, as you suggest, it would be difficult to break this fundamental 'law' of market behavior. i think this explanation is more likely than any other, at least by occam's principle.

It's weekend, you can't expect those resistances to break with these kind of volumes. Tomorrow we will know more, until then it's anyone's guess.

price exhibits the same patterns, just on lower volume.

it's harder to confirm patterns in this setting, but the price is following my personal trading model very nicely, and i stand by the failure to break the resistances as a signal to relieve selling pressure. the market is short-term overbought, and we are, as i projected 12 hours ago, sliding into a low-volume downtrend. there even seems to be a little bear pennant forming right now, which is likely to break down.

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i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

because of the short but strong bull run we just witnessed, if we break through these serious resistances it will signal a strong movement up, in continuation of this strong short-term trend. if we fail to break through the resistance it will be a signal to relieve the selling pressure (from the larger downtrend) that's been building up in the askwall.

not similar at all. we were extremely oversold on the short term at that point. the reason that now is different is because the bulls have exhausted their energy for the time being and failed to break through the 38.2% resistance line.

haha, i was gonna make a couple extra bucks on the quick drop knowing that it would soon raise up, but my work computers were a total lag fest and I ended up losing 50 bucks selling too low....i suppose thats how it goes.

But you see that shit spike back up? RALLY. so sad for those of you who really thought this was the crash ahaha. even the DDOS attacks aren't slowing anything down anymore.

this is why you shouldn't daytrade. you've got a few misconceptions here.

1) there's always a rebound, so don't panic sell, wait and sell at the top of the bounce.

2) there's always a rebound. we could easily slide into a short-term downtrend at this point.

There could be a bit more upside or some consolidation, but the hell dozen of resistances... sma200, upper weekly bb, middle daily bb and tons of others.

[i hope lucif doesn't mind my reposting his work, i'm a big fan]

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because of the short but strong bull run we just witnessed, if we break through these serious resistances it will signal a strong movement up, in continuation of this strong short-term trend. if we fail to break through the resistance it will be a signal to relieve the selling pressure (from the larger downtrend) that's been building up in the askwall. from my own analysis, it's nearly 50/50, with the bearishbullish scenario slightly more likely (approx 55-45).

based on the data in the next 24 hours, i can complete the model and i will make it available on the forums, along with mid-term projections.